More than 12 Microfinance institutions and organizations signed An Open Letter in Support of Dr. Muhammad Yunus. A Bangladeshi court on Tuesday upheld an order removing Yunus as head of Grameen Bank.

Open Letter:
"Muhammad Yunus has diligently served the poor for decades. No one has done more to inspire generations to work to reduce poverty.

We are increasingly concerned and dismayed with the troubles Nobel laureate Muhammad Yunus is facing in Bangladesh. As we understand it, the Government of Bangladesh is resorting to technicalities to remove Dr. Yunus from the Grameen Bank, without presentation through legitimate and transparent legal processes of any evidence of wrong-doing.

We deeply deplore this lack of justice and unproven allegations that not only impugn Dr. Yunus' character and the integrity of his flagship bank, but reach much further. Forced removal creates unnecessary risk for the more than 8 million borrowers-owners of the bank. The Government of Bangladesh previously had respect for the bank's independence as a majority client-owned microfinance institution; it is our sincere hope that a return to the status quo can be made quickly.

Dr. Yunus has played a seminal role in the development and recognition of microfinance -- the provision of small, working-capital loans and other financial services for the entrepreneurial poor. He has our strong support, and our wishes for a just and speedy resolution to this sad turn of events."

Sincerely,

ACCION
Calvert Foundation
Co-Operative Bank
FINCA
Freedom From Hunger
Grameen Foundation
Grassroots Capital
Microvest Fund
Opportunity International
Pro Mujer
Triple Jump
Visionfund International
Women's World Banking

Muhammad Yunus Out Grammen Bank According to the Wall Street Journal, the court has removal of Muhammad Yunus as managing director of the Grameen Bank.

And is Microfinance Guru Muhammad Yunus the founding father of microcredit programs, one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, which was founded in 1976 as a project to turn later to the Bank of specialists in the year 1983, the most famous microcredit programs in the world , where the proportion of women constitute more than 90%, with the rate of recovery of loans amounting to more than 95% , and in this regard, Muhammad Yunus was awarded this status with his Grameen Bank, Nobel Peace Prize in October 13, 2006 by the Swedish Academy in recognition of greeted the visit to the fight against poverty.

Rachid AJMAL
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 Grameen bank

Grammen Foundation

Economy is Bangladeshi Muhammad Yunus and the founding father of micro-credit programs, one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, which was founded in 1976 as a project to turn later to the Bank of specialists in the year 1983, the most famous micro-credit programs in the world , where the proportion of women constitute more than 90%, with the rate of recovery of loans amounting to more than 95% , and in this regard, Muhammad Yunus was awarded this status with his Grameen Bank, Nobel Peace Prize in October 13, 2006 by the Swedish Academy in recognition of greeted the visit to the fight against poverty.

Successful experience of Bangladesh in micro-credit programs through the Grameen Bank - means Bank of the village - in the recovery of loans and access to the poor, attracted worldwide attention, has been replicated in more than 60 countries including the United States , and in many countries of the world developing low-income in order to fight poverty and social exclusion and financial discrimination.

By Rachid AJMAL

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Micro credits (Micro-loans) are generally one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, microfinance is to expand the scope of very small loans, and aims to stimulate entrepreneurship among those who suffer from poverty to self-employment and develop their small businesses, to alleviate poverty and improve their status and social and thus improve the status of their families and their children in terms of standard of living on the one hand, and level of access to social services (such as health, education, ...) on the other.

By Rachid AJMAL